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Archive for June, 2008

Progress

Well yesterday I finished organizing all of my records and statements that were in various piles all over the place. A whole lot got thrown out and the rest got separated into file folders and put into my filing cabinet. Had to run out to buy the folders, though I could have sworn I had a bunch of empty ones laying around. Oh well, they were only two bucks. Today I will be taking my large container full of change up to the bank to Coinstar all of it. I’m hoping to get at least $10 out of it.

While organizing all of my bills yesterday, I also managed to get a good handle on what my status is on paying off my current loans. My car loan has about $13,800 left on it and my college loan is at about $14,000. Wiping out these two sources of debt needs to be done after I wipe out the $400 debt on my credit card. I’d save myself close to $300 a month if the car loan were paid off, so that one will receive full priority after the credit card is gone. Will be plotting out expenses and figuring out where I can save myself money. I know I have dollars in there that are just waiting to be saved. I WILL find them.

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Day One

This is the first day in my tracking of my progress to having 1 million dollars in assets by October 30, 2013. This is one of the first steps I have made in moving to make that goal a reality. Beyond that, I have implemented additional steps in the past week:

  • Have created an additional checking account to allocate spending cash to.
  • Have created and made an initial deposit into a high yield saving account at INGDirect.
  • Have begun organizing my current disorganized file system into separate categorized folders. Organization is going to be something I need a lot right now.
  • Have identified specialized training that can be had for a relatively low price in terms of the gain in salary.
  • Have opened a paper trading account at Investopedia.

I’ve started on this path and even though I know there’s going to be roadblocks, NOTHING is going to stop me from reaching my goal. NOTHING will deter me for more than the time it takes to shake the thought from my mind.

Current income streams:

  1. Job
  2. Band Gigs
  3. Independent technical consulting

So thus far I have 3 streams of income. The only one that is currently steady and dependable is my day job. I have to come up with either A) ways of making the other two more dependable, or B) creating additional sources of income. My plan is to go for C) all of the above. I always liked choosing C or tests back in school, so it seems appropriate now. And now for current assets in accounts:

  • Personal Bills: $363.93
  • Spending: $0
  • Expenses: $300
  • Savings: $500
  • Investment: $335.26

TOTAL: $1499.19

So there you have it folks. With starting capital of $1499.19, I will make $1,000,000 by October 30, 2013. Stay Tuned.

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